How to finance a resale flat with a bank loan after selling my BTO

To finance a resale flat with a bank loan, begin by obtaining a bank’s Letter of Offer or in-principle approval before signing the Option to Purchase. You must also ensure you have sufficient funds in CPF and/or cash for the initial payment (for example, at least 5% in cash if you qualify for a 75% loan). Your remaining CPF savings can be used up to the property’s market valuation. Once your loan is confirmed, the bank’s lawyer will advise you on conveyancing fees and payment schedules. At resale completion, you will settle any balance payments with Cashier’s Order or NETS, sign the legal documents, and receive the keys to your new flat.